RIYADH: Saudi Arabia’s diary giant Almarai on Tuesday commenced the offer of US dollar-denominated trust certificates maturing in 10 years, according to a bourse filing on Tadawul. The company said the minimum subscription limit of the offer was $200,000 and would rise in increments of $1,000. The offer ends Wednesday. The food and beverage major assigned Citigroup, Dubai Islamic Bank, HSBC, J.P. Morgan and Standard Chartered Bank as joint lead managers for the offering. It further said the issuance amount will be determined after the completion of the offer period based on market conditions at that time. Meanwhile, Reuters reported on Tuesday that Almarai is set to raise $750 million from a sale of 10-year Islamic bonds that drew over $4 billion in orders. It further said the sukuk launched at 145 basis points over US Treasurys, tightened from initial price guidance of around 180 bps over the same benchmark. Debt sales in the region restarted last week after a monthlong lull, with Dubai developer Sobha Realty opening the way with a $300 million sukuk offering.